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Dec 8, 2012
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can you fix the fiscal cliff and send the economy downward. >> the fiscal cliff, isn't it having real impact in the economy now? >> it's having real impact and name pact will growth longer we take to come to a deal, some deal, any deal. what everybody wants, individuals who are going to be paid in january, they don't know how much and businesses, so what's the deal? what are -- what do we have to plan on? >> the best down payment would be to continue tax rates at the middle class for the rates they are, the best down payment. that's the best easy first step and i hope congress will realize take a step and take it now and give the president something he can sign. >> that has to be the last word. thanks, guys. >>> from the downward slope of the cliff to the upward climb on jobs, a big surprise in the november jobs numbers. it's a step in the right direction, but ali velshi will join me with a look at why we need to do much more. americans believe they should be in charge of their own future. how they'll live tomorrow. for more than 116 years, ameriprise financial has worked for their cl
can you fix the fiscal cliff and send the economy downward. >> the fiscal cliff, isn't it having real impact in the economy now? >> it's having real impact and name pact will growth longer we take to come to a deal, some deal, any deal. what everybody wants, individuals who are going to be paid in january, they don't know how much and businesses, so what's the deal? what are -- what do we have to plan on? >> the best down payment would be to continue tax rates at the middle...
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Dec 6, 2012
12/12
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wa wall street is saying about the fiscal cliff. plus kate out of the hospital but is she out of the woods. she's out of the hospital after battling a treatment for severe morning sickness. we get a report from london straight ahead. and you really don't want to pay more than you have to. only citi price rewind automatically searches for the lowest price. and if it finds one, you get refunded the difference. just use your citi card and register your purchase online. have a super sparkly day! ok. [ male announcer ] now all you need is a magic carriage. citi price rewind. start saving at citi.com/pricerewind. citi price rewind. avoid bad.fats. don't go over 2000... 1200 calories a day. carbs are bad. carbs are good. the story keeps changing. so i'm not listening... to anyone but myself. i know better nutrition when i see it: great grains. great grains cereal starts whole and stays whole. see the seam? more processed flakes look nothing like natural grains. you can't argue with nutrition you can see. great grains. search great grains a
wa wall street is saying about the fiscal cliff. plus kate out of the hospital but is she out of the woods. she's out of the hospital after battling a treatment for severe morning sickness. we get a report from london straight ahead. and you really don't want to pay more than you have to. only citi price rewind automatically searches for the lowest price. and if it finds one, you get refunded the difference. just use your citi card and register your purchase online. have a super sparkly day!...
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Dec 3, 2012
12/12
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more now on the fiscal cliff. one of the industries with the most at stake in the budget debate is the defense industry. in a meeting today in washington, northrop grumman ceo wes bush with a dire warning. >> it would result in across the board cuts to both defense and nondefense accounts. and the interesting thing about this is the cuts are not tied to any military strategy whatsoever. it is completely disconnected from a perspective of strategy. in essence these would be meat axe taken to our national defense budgets. >> let's go straight to the front lines of the issue. task specializes in systems, engineering and integrate. president and ceo david langstaff is with us, among the defense contractors speaking out today in washington. he joins me now on the telephone. sir, good to have on you the program. thanks for joining us. >> thank you. glad to be with you. >> what's the potential fallout for task if we go over the fiscal cliff. how would you navigate this? >> first, it's just terrible policy to go over the
more now on the fiscal cliff. one of the industries with the most at stake in the budget debate is the defense industry. in a meeting today in washington, northrop grumman ceo wes bush with a dire warning. >> it would result in across the board cuts to both defense and nondefense accounts. and the interesting thing about this is the cuts are not tied to any military strategy whatsoever. it is completely disconnected from a perspective of strategy. in essence these would be meat axe taken...
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Dec 5, 2012
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>> the major impact is looking at the fiscal cliff. any compromise close to that is going to give the market some upward swing. the gop is under extreme pressure since president obama is definitely going to be seeing a wealthy tax added to it. on the economic news, little light tomorrow with initial claims at about 390,000, but the big story is really friday as we look to the jobs report. we believe that the effect of the payroll will be at 50,000 range due to the effect of hurricane sandy which could put our unemployment up to an 8% rate. >> all right. we'll be watching that. thanks very much to you both. we appreciate it. of course we'll be looking at this market and whether or not it loses the steam come the big rally today. ticktock, ticktock on the fiscal cliff. my thoughts on the story from timothy geithner. guess what, folks. i think we're going over the cliff. back in a moment. are system spoke a language all its own with unitedhealthcare, i got help that fit my life. information on my phone. connection to doctors who get where
>> the major impact is looking at the fiscal cliff. any compromise close to that is going to give the market some upward swing. the gop is under extreme pressure since president obama is definitely going to be seeing a wealthy tax added to it. on the economic news, little light tomorrow with initial claims at about 390,000, but the big story is really friday as we look to the jobs report. we believe that the effect of the payroll will be at 50,000 range due to the effect of hurricane...
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Dec 7, 2012
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it is the fiscal cliff. if we go over that, if all the tax cuts expire, if we have the sequester, if we don't extend payroll tax relief and unemployment benefits, we will end up at the end of 2013 with about over 3 million fewer jobs than we would have had otherwise. just imagine that. the fiscal cliff is going cost the economy in that order of magnitude, 3 million jobs. we should not, not, not go over that cliff. now -- >> by the same token, though, his point about -- and i don't want to make this about ed. the fact remains that the debt levels we have in this country in effect put a cap on growth right now. >> sure, sure, sure. i think that economists have been saying for years -- i have said repeatedly, economists on both sides of the aisle have said repeatedly what we need is a long-term plan for deficit reduction that begins to take effect when the economy is closer to its capacity. right now it's at least 6% below its capacity. the unemployment rate, 7.7, it should be like 5.7 at capacity. we should no
it is the fiscal cliff. if we go over that, if all the tax cuts expire, if we have the sequester, if we don't extend payroll tax relief and unemployment benefits, we will end up at the end of 2013 with about over 3 million fewer jobs than we would have had otherwise. just imagine that. the fiscal cliff is going cost the economy in that order of magnitude, 3 million jobs. we should not, not, not go over that cliff. now -- >> by the same token, though, his point about -- and i don't want to...
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Dec 6, 2012
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. >> fiscal cliff. >> fiscal cliff. >> fiscal cliff. >> fiscal cliff. >> but why doesn't the market care? let's find out right now. >>> live from the nasdaq market site in new york city's time square, i'm melissa lee. here are tonight's top three trades. solving the apple mystery. want to know what's behind apple's troubles this week? we here at "fast" have gotten to the bottom of the selloff. we'll tell you what it means. plus, freeport fizzles. the fine print on why the company's two big buys are raising big red flags. >>> and nat gas revolution, the government says exporting nat gas could be a game changer for america's economy, but at what cost? we'll take a deeper dive to find some answers. but first, our top story tonight. >>> everyone cares about the fiscal cliff, except, seemingly, the markets. just 25 days until the year end deadline and still no deal out of washington. still stocks quietly climb higher. the dow closing today at a one-month high. what gives? just an assumption that a deal -- >> it almost gets back to that you never short. we're all waiting for some type of closu
. >> fiscal cliff. >> fiscal cliff. >> fiscal cliff. >> fiscal cliff. >> but why doesn't the market care? let's find out right now. >>> live from the nasdaq market site in new york city's time square, i'm melissa lee. here are tonight's top three trades. solving the apple mystery. want to know what's behind apple's troubles this week? we here at "fast" have gotten to the bottom of the selloff. we'll tell you what it means. plus, freeport fizzles....
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over the fiscal cliff. if you lo at what the president's stance to gain if the country goes over the fiscal cliff, here are very clear and identifiable things. on the one hand the president could idenfy himself as a tax cutter. he could say -- on january 1st the president in terms of the country and say, now in favor of cutting these taxes that have been raised because we did not solve this before the fiscal cliff. he can turn and say to my want to restore some of this funding that my secretary ofefense and joint chiefs of staff told me i need to restore and can position himself as sort of the protector of u.s. national security. so there are som clear incentives to the president to lead the country over the fiscal cliff. do i think that's what he wants? probably not, but do i think there are incentives for him to do it temecula. gerri: never looked at it that way as you look at this debate on going, there are a lot of folks who say we will be flirtingwith recession or in receson f we do go over the cliff.
over the fiscal cliff. if you lo at what the president's stance to gain if the country goes over the fiscal cliff, here are very clear and identifiable things. on the one hand the president could idenfy himself as a tax cutter. he could say -- on january 1st the president in terms of the country and say, now in favor of cutting these taxes that have been raised because we did not solve this before the fiscal cliff. he can turn and say to my want to restore some of this funding that my secretary...
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if we got the fiscal cliff. gerri: withhe dense cuts come if we do over the cliff, it will cost $100 million or over that? >> 137 million. gerri: would this put you into the red? >> it certainly could. we are still looking at obama's health care plan and what it will do to the sta budget. the federal strings are tied. i asked the president about this. the federal funds that come down to the state as you may cuts -- we can still have the strength attached to it. it doesn't give leeway to meet your unique circumstances in our state. we are all different. different budgets,ifferent employment rates, different constitutions, different laws. different styles of living and means within our budget. give us some flexibility. gerri: i expect you to be a little bit more upbeat about the fiscal cliff, but i have to tell you, you sound like a lot of people in washington today. concerns over whether these leaders can get together and find common ground and resolve this issue. it would be meaningful to stay like yours. govern
if we got the fiscal cliff. gerri: withhe dense cuts come if we do over the cliff, it will cost $100 million or over that? >> 137 million. gerri: would this put you into the red? >> it certainly could. we are still looking at obama's health care plan and what it will do to the sta budget. the federal strings are tied. i asked the president about this. the federal funds that come down to the state as you may cuts -- we can still have the strength attached to it. it doesn't give...
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Dec 3, 2012
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a gop counteroffer on the fiscal cliff is just being released. let's go to e-mailen j amon jav >> they say boehner is offering multi-step solution here, including what he's after is $800 billion in revenue through tax reform. that's obviously significantly less than the $1.6 trillion the president asked for his-n his initial offer last week. other details in this offer being reported by nbc. health savings of $600 billion. other mandatory savings of $300 billion. a revision to cpi of $200 billion. and further discretionary savings of $300 billion. guys, it looks like the horse trading is alive and well here in washington. now this offer being extended from the republicans. you can assume that the white house will not think this is enough tax revenue to go forward, but, of course, offers are being exchanged here so that's a sign negotiations are under way, guys. >> let's get into the details here. $600 billion in health savings. what does that mean for medicare? break it down in terms of where these savings come from. >> i wish i could. what we do
a gop counteroffer on the fiscal cliff is just being released. let's go to e-mailen j amon jav >> they say boehner is offering multi-step solution here, including what he's after is $800 billion in revenue through tax reform. that's obviously significantly less than the $1.6 trillion the president asked for his-n his initial offer last week. other details in this offer being reported by nbc. health savings of $600 billion. other mandatory savings of $300 billion. a revision to cpi of $200...
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Dec 4, 2012
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we're going over the fiscal cliff. will that coupled with obamacare kicking in sent your hospital bills through the roof? i'll talk with the head of one of the biggest hospital groups in the city. stay with us. back if a moment. [ male announcer ] this december, remember -- ♪ you can stay in and like something... ♪ [ car alarm deactivates ] ♪ ...or you can get out there with your family and actually like something. ♪ the lexus december to remember sales event is on, offering some of our best values of the year. this is the pursuit of perfection. since ameriprise financial was founded back in 1894, they've been committed to putting clients first. helping generations through tough times. good times. never taking a bailout. there when you need them. helping millions of americans over the centuries. the strength of a global financial leader. the heart of a one-to-one relationship. together for your future. ♪ well, having a ton of locations doesn't hurt. and a santa to boot! [ chuckles ] right, baby. oh, sir. that
we're going over the fiscal cliff. will that coupled with obamacare kicking in sent your hospital bills through the roof? i'll talk with the head of one of the biggest hospital groups in the city. stay with us. back if a moment. [ male announcer ] this december, remember -- ♪ you can stay in and like something... ♪ [ car alarm deactivates ] ♪ ...or you can get out there with your family and actually like something. ♪ the lexus december to remember sales event is on, offering some of our...
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take a look. >> what is the fiscal cliff? >> we're from new mexico out here to clean up. >> no idea. >> the cliff? how tall is it? >> i have no idea. >> where is it? >> can i google it? >> bad news. it's bad news. fiscal cliff. >>> end of the world, apparently, right. >> if you wanted to take one of these cliff bars, if you wanted to take one that tasted like the fiscal cliff. >> which one would you choose and why? the one that tastes like crap. >> we're all going to fall off the face of the earth. >> they need to fix it. that's what they're paid for. >> what happens if they don't? >> we're going to lose some money. >> it reminds me of something i learned in school, i'm going to guess some like of cliff, avalanche. >> how tall is it? >> i'd say at least like 370 some feet. >> i don't know. it sounds like something disgusting to eat or something. >> you heard of it? >> it's part of our economy going choooooooo. >> i'm pretty sure we don't have a fiscal cliff. >> we fell off of it. >> yes, we did. >> is it a dangerous cliff? >>
take a look. >> what is the fiscal cliff? >> we're from new mexico out here to clean up. >> no idea. >> the cliff? how tall is it? >> i have no idea. >> where is it? >> can i google it? >> bad news. it's bad news. fiscal cliff. >>> end of the world, apparently, right. >> if you wanted to take one of these cliff bars, if you wanted to take one that tasted like the fiscal cliff. >> which one would you choose and why? the one...
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all to keep us from going over the fiscal cliff. just in case, though, we've got some experts on happened to help you protect your money. here's how we stand right now, though. it's been a generally positive day for some of the blue chip averages. the dow among them. up 57 points right now, near the highs of the session at 13,003 and change. the nasdaq continues lower. you can blame apple. technology suffering as a result today, down 12 points right now at 2977. the s&p is up 2.25 points at 1416. with less than an hour to go in the trading week, another week without a deal to avoid going over the fiscal cliff. while today's positive jobs report did give markets a boost early on, it wasn't enough to get a significant rally going and to continue it on. so what's it going to take to get some conviction back in this market? >> that's in today's "closing bell" exchange. gentlemen, great to have you joining us here on "closing bell." i think bill pretty much cede it. what is it going to take to get conviction back in this market? i kind o
all to keep us from going over the fiscal cliff. just in case, though, we've got some experts on happened to help you protect your money. here's how we stand right now, though. it's been a generally positive day for some of the blue chip averages. the dow among them. up 57 points right now, near the highs of the session at 13,003 and change. the nasdaq continues lower. you can blame apple. technology suffering as a result today, down 12 points right now at 2977. the s&p is up 2.25 points at...
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from going over the fiscal cliff. staff and speaker john boehner's office telling fox business the lines of communication open, but it's an empty house in washington. look at these pictures. house members on their long weekend break, and the senate is out until monday, but not before working out logistics for a big event. a private screening of steven spielberg's lincoln at the capital. now, harry reid using his time to take a special waiver to allow unbuttered popcorn in the auditorium. that's what passes for work these days. the president's holding another campaign style event as the middle class families, and with more, michael burgess of texas. congressman, great to have you object show again. >> great to be with you, thank you. gerri: everything's hanging in the banse, economy, middle class income, taxes, you name it, and you and your fellow house members are not going to work. >> well, wait, this is a 24-hour day job, seven days a week. i'm in new york tomorrow looking at the hospitals affected in hurricane sand
from going over the fiscal cliff. staff and speaker john boehner's office telling fox business the lines of communication open, but it's an empty house in washington. look at these pictures. house members on their long weekend break, and the senate is out until monday, but not before working out logistics for a big event. a private screening of steven spielberg's lincoln at the capital. now, harry reid using his time to take a special waiver to allow unbuttered popcorn in the auditorium. that's...
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congress has ever used the fiscal cliff. usual through debt ceiling as a bargaining point, which is what happened last year. this never dealt with. >> what would happen if the congress said no? the president would be forced to operate the federal government in money available to him. >> nobody said that to ronald reagan or the first george busher second george bush. >> democrats voted against raising the debt ceiling. >> but nobody has ever, ever stopped it and made it a point of then fiscal negotiation. only happened once. >> we have never been in treacherous, perilous fiscal circumstances as today. >> bret: top senate republican calling it quits was here on the set with us. the all-stars weigh in on that. surprising development next. initiated. neural speeds increasing to 4g lte. brain upgrading to a quad-core processor. predictive intelligence with google now complete. introducing droid dna by htc. it's not an upgrade to your phone. it's an upgrade to yourself. [ female announcer ] some people like to pretend a flood coul
congress has ever used the fiscal cliff. usual through debt ceiling as a bargaining point, which is what happened last year. this never dealt with. >> what would happen if the congress said no? the president would be forced to operate the federal government in money available to him. >> nobody said that to ronald reagan or the first george busher second george bush. >> democrats voted against raising the debt ceiling. >> but nobody has ever, ever stopped it and made it a...
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>> it all depends on what happens with the fiscal cliff. right now, there's boehner yelled out by his own party, the conservative part of the wing, and also the left. he's in a really, really tight spot and an ultimate binary trade. if something good happens, we'll rocket higher. if something bad happens, expect the worst right now. that's the thing right now. it's a yes or no trade. liz: congressional know it all at fox news calls it rrpublican on republican violence. hard to get a deal in the own party, special interests, the markets, whatever happens, we want to make money. where did you see the flows today? >> -- >> just a sec. we picked through the numbers, the stock is falling, of course, i'm sure making the shorts happy. clearly, looking at the stock, again, it had been up for the past two and a half weeks, but it's gotten hammered since the six month high reached six months ago. larry, quickly, though, where were the flows today that you saw? >> not many at all. i think people are talking about putting money into financials and mate
>> it all depends on what happens with the fiscal cliff. right now, there's boehner yelled out by his own party, the conservative part of the wing, and also the left. he's in a really, really tight spot and an ultimate binary trade. if something good happens, we'll rocket higher. if something bad happens, expect the worst right now. that's the thing right now. it's a yes or no trade. liz: congressional know it all at fox news calls it rrpublican on republican violence. hard to get a deal...
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>> eric: yes, the dreaded fiscal cliff. tax hike, spending cut and sequestion ration, whatever they are. belly flop the economy at once. comfortabling the know that d.c. is on top of it all. alex simpson, former senator and the guy that everyone thinks is a lifeguard at the fiscal pool. ♪ ♪ >> eric: okay, beckel is gangnam style. good to know we're in good hands but get serious, folks. >> any word from karl rove? >> despite what we're telling you, it's over. romney lost. >> i guess it's time i explain, the good people, the upcoming fiscal cliff. >> the economy is the car and rich sman a driver. don't give the driver many. they will drive you over a cliff. just common sense. >> eric: not exactly. the only way to save the republic is for us to let the president go off the fiscal cliff. taxes will go up. but mandatory spending cuts get enacted. that seems to be the only way dems will cut a dime. let's save the place for the kids. do you agree? >> greg: i do. >> bob: i think you're crazy. >> greg: funny that bob and i agree
>> eric: yes, the dreaded fiscal cliff. tax hike, spending cut and sequestion ration, whatever they are. belly flop the economy at once. comfortabling the know that d.c. is on top of it all. alex simpson, former senator and the guy that everyone thinks is a lifeguard at the fiscal pool. ♪ ♪ >> eric: okay, beckel is gangnam style. good to know we're in good hands but get serious, folks. >> any word from karl rove? >> despite what we're telling you, it's over. romney...
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Dec 10, 2012
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that deadline isn't even the real fiscal cliff. david: that strategist is none other than peter schiff, ceo of europacific precious metals. friend of the show. peter, although i wish it was under better circumstances. you say the real cliff coming is bigger han the housing mess, bigger than the housing crisis we went through. it's the bond mess. specifically when the fed stops printing money to buy up treasurys all hell will break loose, right? >> well, and if it continues to print money it will be a bigger hell. if we avoid the fiscal cliff we end up throwing the dollar over the currency cliff because we send a message to the world america will never pay its bills. we'll keep borrowing money until the creditors cut us off. that is when interest rates skyrocket. the pressure on the fed and if the fed caves in to buy up all the bonds nobody wants we destroy the dollar. that is even bigger crisis than if we let the bond market collapse and let it take the economy with it. liz: let's not start so macro. we're throwing out this term th
that deadline isn't even the real fiscal cliff. david: that strategist is none other than peter schiff, ceo of europacific precious metals. friend of the show. peter, although i wish it was under better circumstances. you say the real cliff coming is bigger han the housing mess, bigger than the housing crisis we went through. it's the bond mess. specifically when the fed stops printing money to buy up treasurys all hell will break loose, right? >> well, and if it continues to print money...
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. >> is the administration prepared to go over the fiscal cliff? >> absolutely. >> the gop is on the ropes and they're ready to cave. >> the house republican leadership are like generals, hunkered away in a bunker who don't realize that their army has already laid down its arms. >> what we got today was a seminar on how to surrender. >> need the president to scare the dickens out of those people. >> if congress in any way suggests they're going to tie negotiations to debt ceiling, folks, i will not play that game. >> do we need a better mouthpiece for the republicans. >> revenues will come from guess who? the rich. >> maybe they need to learn a thing or two from president obama. >> this is a solvable problem. i do remain optimistic that we can get something done that is good for families. ♪ >>> it's exactly one month since the president's resounding re-election, but if you thought the campaign was over, you'd be wrong. in the fight over the fiscal cliff, the president is again reaching out to voters for their support. this afternoon a northern vi
. >> is the administration prepared to go over the fiscal cliff? >> absolutely. >> the gop is on the ropes and they're ready to cave. >> the house republican leadership are like generals, hunkered away in a bunker who don't realize that their army has already laid down its arms. >> what we got today was a seminar on how to surrender. >> need the president to scare the dickens out of those people. >> if congress in any way suggests they're going to tie...
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with no agreement, going over the fiscal cliff would be painful. the automatic tax increases break down like this: households making $20,000 to $4,000 would see an increase in $1,200 a year. incomes of $40,000 to $64,000 would see taxes rise $2,000 and in the $64,000 to $108,000 bracket taxes go up $3,500 a year. mr. obama and the republican speaker of the house talked this over today and here's major garrett at the white house. major? >> reporter: scott, there there is a code of silence the white house and speaker boehner's try to apply to these phone conversations, releasing as few details as possible to protect the underlying negotiations. nevertheless, cbs news has learned the following: the speaker and the president spoke before treasury secretary tkpwaoeugter in'sers.e.c.geithner's comments about going over the cliff, the conversation was described as brief, meaning shorter than the 28-minute conversation speaker boehner and the president had last week. also those familiar with the conversation tell me -- or do not used a skwrebgive thes like
with no agreement, going over the fiscal cliff would be painful. the automatic tax increases break down like this: households making $20,000 to $4,000 would see an increase in $1,200 a year. incomes of $40,000 to $64,000 would see taxes rise $2,000 and in the $64,000 to $108,000 bracket taxes go up $3,500 a year. mr. obama and the republican speaker of the house talked this over today and here's major garrett at the white house. major? >> reporter: scott, there there is a code of silence...
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i'm just going to say it, fiscal cliff, i know, i know, you've heard it. you've heard enough of it, but after another week without progress in washington, the possibility of plunging off the ejd is edge is becoming more of a reality and that could mean real changes for real people. stephanie rule joins me live now to talk a little bit about this. good morning, stephanie, how are you? >> good morning, randi. i was just saying moments ago that i am very concerned about the fiscal cliff but tearing up over besse cooper and the 8-year-old twins from oklahoma. what a morning you're having. >> what a life she had. >> amazing. >> well, let's talk about the cliff now that your eyes are dry. i hope this doesn't bring you to tears -- >> not yet. >> 24 days and counting until that deadline. but for the average american, what will it look like if we go off the cliff? will it be better for anyone? this is a very stressful time. you know, people talk about the cliff like it's this major event, which it is, but almost like a y2k. what are things going to look like januar
i'm just going to say it, fiscal cliff, i know, i know, you've heard it. you've heard enough of it, but after another week without progress in washington, the possibility of plunging off the ejd is edge is becoming more of a reality and that could mean real changes for real people. stephanie rule joins me live now to talk a little bit about this. good morning, stephanie, how are you? >> good morning, randi. i was just saying moments ago that i am very concerned about the fiscal cliff but...
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the idea we're at a fiscal cliff where the economy stops on january 1st is completely misleading. it's a squeeze. everyone will feel it, but then you're in a position where everyone can vote to cut taxes. that might be more politically feasible. >> i like that perspective. you help us take out some of the fear mongering we see, a lot of the media is perpetuating. that's why we're doing the fiscal follies and the wheel of fortune. fiscal fiesta. the media is doing all this fear mongering and you get a lot out of washington. this is a self-created drama, of course. these cliff negotiations. but the markets are remaining relatively calm and steady. why are investors being so cool and above the fray when everybody else is running around with their heads cut off? >> everybody thinks what you see on tv with the duelling positions and we refuse to negotiate, the market sees it for what it is, which is theater. everyone is staking out the position trying to suck up to the base. there will be behind the scenes caving at some point, and if there isn't, if everyone just says absolutely not,
the idea we're at a fiscal cliff where the economy stops on january 1st is completely misleading. it's a squeeze. everyone will feel it, but then you're in a position where everyone can vote to cut taxes. that might be more politically feasible. >> i like that perspective. you help us take out some of the fear mongering we see, a lot of the media is perpetuating. that's why we're doing the fiscal follies and the wheel of fortune. fiscal fiesta. the media is doing all this fear mongering...
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. >>> a group of democratic heavyweights one up the president's fiscal cliff plan. forget hitting the rich. alcohol, cigarettes, online gambling, nothing is safe. will the payoff be worth of the pain? we'll debate it. >>> are the salvation army bell ringer jobs only for sexy ladies. one man claims he was fired to make way for beautiful women. is it unfair or good business? even when they say it's not it is always about "money." melissa: all right. first let's take a look at the day's market headlines. you would think the markets would stop getting faked out by the fiscal cliff optimism, would you? but apparently not. that and better than expected data from the service sector sent the dow to a one-month high. >> it was a different story for the nasdaq weighed down by tumbling shares of apple. it had a 6 1/2% decline there and it is the biggest one day loss in four years. fears are growing that the ipad could be losing market share to android based tablets. >>> layoffs music to the ears of citigroup investors. the bank is slashing 11,000 jobs and taking one billion do
. >>> a group of democratic heavyweights one up the president's fiscal cliff plan. forget hitting the rich. alcohol, cigarettes, online gambling, nothing is safe. will the payoff be worth of the pain? we'll debate it. >>> are the salvation army bell ringer jobs only for sexy ladies. one man claims he was fired to make way for beautiful women. is it unfair or good business? even when they say it's not it is always about "money." melissa: all right. first let's take a...
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we do not want to go off the fiscal cliff. that's why we quickly responded to another proposal to the president. but the president refused to have a discussion. >> there's other reports that say republicans are looking for a fallback position, if he can't get the capps on deductions for more tax revenues and so forth. and it's going to be tax rates that the republicans might just vote present. some might vote present. some might vote aye and deal with the rates next year is. that just pure press speculation or is there anything to it? >> look, those are all press stories that are out there. we're trying to solve a problem. because if that came to fruition, that does nothing to solve the problem. and we just have an unbelievable amount of growth in government where we have to control the spending. if we want to truly save medicare and social security, we've got to do something about it. that's what republicans have been proposing all along. we want to solve a problem once and for all. and that's why we haven't waited -- it's in
we do not want to go off the fiscal cliff. that's why we quickly responded to another proposal to the president. but the president refused to have a discussion. >> there's other reports that say republicans are looking for a fallback position, if he can't get the capps on deductions for more tax revenues and so forth. and it's going to be tax rates that the republicans might just vote present. some might vote present. some might vote aye and deal with the rates next year is. that just...
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how does this play into the fiscal cliff negotiations? >> well, i think the president can and will, i'm sure, make the case that the economy is now clearly headed in the right direction. that the lowering of the unemployment number is not an aberration nor was it a political trick that occurred during the campaign that some had charged. so the president can say, okay, we need to resolve this fiscal cliff issue. or else we're going to start heading in the wrong direction. don't interrupt the recovery that we're having. and if you do, congress, it will be your fault. >> and then as far as the job approval numbers for the president, and this is going to play into this leverage negotiation, as well. how is the president handling his job as president. this is an average of the major polls. 53% approve of the job he's doing. 43% disapproved. that's a three-year high. >> and our monitor poll out this week. 53% approval. and the widest gap we've had on whether people prefer him or republicans. he has a stronger hand in this debate, partially beca
how does this play into the fiscal cliff negotiations? >> well, i think the president can and will, i'm sure, make the case that the economy is now clearly headed in the right direction. that the lowering of the unemployment number is not an aberration nor was it a political trick that occurred during the campaign that some had charged. so the president can say, okay, we need to resolve this fiscal cliff issue. or else we're going to start heading in the wrong direction. don't interrupt...
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going off that fiscal cliff. to this point most of the conversation has been focused on what happens in january, and for good reason. there's no deal in congress. tax rates go up for a lot of folks, all americans. and a $1.2 trillion worth of defense and spending cuts will be automatically enacted. excuse me, that fiscal cough i told you about. the alternative minimum tax kicks in and put it all together and the results are pretty. the economy would contract by half a percent in 2013. unemployment would raise to 9.1% and the economy would experience what cbo said would be judged as a recession. but after that, then things start to look pretty good. the cbo says after next year by the agency's estimates economic growth will pick up. the labor market will strengthen returning output to its potential level. 5.5% by 2018. essentially if no deal is struck, the federal government would be forced to do what it's refused to do willingly, make dramatic changes in taxes and spending. if those changes happen automatically,
going off that fiscal cliff. to this point most of the conversation has been focused on what happens in january, and for good reason. there's no deal in congress. tax rates go up for a lot of folks, all americans. and a $1.2 trillion worth of defense and spending cuts will be automatically enacted. excuse me, that fiscal cough i told you about. the alternative minimum tax kicks in and put it all together and the results are pretty. the economy would contract by half a percent in 2013....
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in a new interview president obama says a deal to avoid the so-called fiscal cliff is still possible but not without higher taxes for the wealthy. the president sat down with bloomberg for his first tv interview since the election and the fiscal cliff face off. he reiterated that lying in the sand is higher taxes for the wealthy. he gave republicans some room to maneuver. >> the issue right now that's relevant is the acknowledgment that if we're going to raise revenues that are sufficient to balance with the very tough cuts that we've already made and the further reforms and entitlemented ientitlements i'm prepared to make, we have to see the rates on the top 2% go up. we're not getting a deal without it. understand the reason for that. it's not me being stubborn or partisan, it's a matter of math. >> and the gop plan, which was unveiled yesterday, includes $800 bill onin new taxes made through closing loopholes and deductions and not raising rates. compare that to the president's plan and that's about half of what the white house asked for. republicans propose 600 billion in entitle
in a new interview president obama says a deal to avoid the so-called fiscal cliff is still possible but not without higher taxes for the wealthy. the president sat down with bloomberg for his first tv interview since the election and the fiscal cliff face off. he reiterated that lying in the sand is higher taxes for the wealthy. he gave republicans some room to maneuver. >> the issue right now that's relevant is the acknowledgment that if we're going to raise revenues that are sufficient...
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Dec 10, 2012
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breaking news on the fiscal cliff talks. president obama, house speaker john boehner met face-to-face at the white house today to try to prevent the fiscal cliff now just 23 days away. we don't have any details on their conversations, but reps for both sides say the lines of communication remain open. meanwhile, at least four republican senators now support a tax hike on wealthy americans. here is senator tom coburn of oklahoma. >> the fact is we're spending money that we don't have on things we don't absolutely need, and there's no grown-ups in washington that will say time-out, stop the politics, let's have a compromise rather than continue to play the game through the press and hurt the country. >> more on this story in just a few minutes with our senior political analyst, david gergen. >>> a half million dollars, that's the bond set today by a judge near dallas for cowboys nose tackle josh brent. he was behind the wheel in a car accident this weekend that killed teammate jerry brown, jr. police believe brent was drunk wh
breaking news on the fiscal cliff talks. president obama, house speaker john boehner met face-to-face at the white house today to try to prevent the fiscal cliff now just 23 days away. we don't have any details on their conversations, but reps for both sides say the lines of communication remain open. meanwhile, at least four republican senators now support a tax hike on wealthy americans. here is senator tom coburn of oklahoma. >> the fact is we're spending money that we don't have on...
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geithner announces he wants to go over the fiscal cliff. they have to understand the person they are negotiating with he views it more through ideology than the economy. in his view, it's the equivalent of a grain of sand on the beach. even if he gets what he wants wishes is to raise the top rates from 35% to 39.6%, the revenues would merely fund this governor for roughly 8 days. it would hardly make a dent in the yearly deficit and not even a chip of a cent off the debt. he said he would rather go over the fiscal cliff than not to raise tax rates. so obama pushing higher taxes on the top 2%, not for economic reasons but for i'd logical reasons but there is also this obvious fact. obama wants to raise the top rates for political reasons. now that is he wants to force republicans to raise tacks in order to trigger a civil war within the gop and the conservative movement, and in that respect sadly obama is having some success. now so long as this debate is focused not on cutting spending but on raising daxs and revenues with the only question
geithner announces he wants to go over the fiscal cliff. they have to understand the person they are negotiating with he views it more through ideology than the economy. in his view, it's the equivalent of a grain of sand on the beach. even if he gets what he wants wishes is to raise the top rates from 35% to 39.6%, the revenues would merely fund this governor for roughly 8 days. it would hardly make a dent in the yearly deficit and not even a chip of a cent off the debt. he said he would...
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what do these numbers mean and what do they portend for the fiscal cliff negotiations? >> it strengthens the president's hand. it was a good number, not great, because of some of the revisions we saw to previous months but the president can tout a record of job creation, so that's encouraging. the unemployment rate went down to 7.7% for some of the wrong reasons. a lot of people left the labor force. that's not something you want to see. you want to see more people coming into the labor force, encouraged that they have a chance at getting a job. nonetheless, 146,000 jobs created. that's good for the president. gives him a chance to go out there and have some momentum going into the fiscal cliff talks. i was just at the speaker's press conference down the hall at the top of last hour and he said look, there's no progress being made and his call with the president was just more of the same and the staff talks behind the scenes yesterday were more of the same. he didn't give us a whole lot of optimism going into this weekend here, alex. >> here's my question. i have many q
what do these numbers mean and what do they portend for the fiscal cliff negotiations? >> it strengthens the president's hand. it was a good number, not great, because of some of the revisions we saw to previous months but the president can tout a record of job creation, so that's encouraging. the unemployment rate went down to 7.7% for some of the wrong reasons. a lot of people left the labor force. that's not something you want to see. you want to see more people coming into the labor...
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let love shine. >>> act three of the fiscal cliff theater piece begins today. it is wednesday, december 5th, and this is "now." >>> joining me today benjamin wallace wells of "new york" magazine, the "washington post's" melinda headenberger, msnbc political analyst and former dnc communications director karen finney and senior national correspondent for bloomberg business week josh green. round three has begun. two days after the republican fiscal cliff counter offer, both sides are coming out swings. speaker john boehner defended his proposal this morning, adopting a page from the dem's fairness playbook. >> the revenues we're putting on the table are going to come from, guess who? the rich. closing loopholes, especially on those who are wealthy, is a better way to raise this revenue than raising
let love shine. >>> act three of the fiscal cliff theater piece begins today. it is wednesday, december 5th, and this is "now." >>> joining me today benjamin wallace wells of "new york" magazine, the "washington post's" melinda headenberger, msnbc political analyst and former dnc communications director karen finney and senior national correspondent for bloomberg business week josh green. round three has begun. two days after the republican fiscal...
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>> well, just look at speaker boehner's fiscal cliff proposal. three-page letter with three simple bullet points. that's the entire proposal to deal with the fiscal cliff and starts out with the sentence that's remarkable, tamron. first sentence is because the election is a status quo, both sides have to compromise. they didn't see what happened. they just dismissed it as a status quo election and this is not just speaker boehner we eric cantor and paul ryan, kevin mccarthy. the entire house republican leadership signed on to the so-called fiscal cliff proposal letter. they're not serious about negotiating. i don't know the right wing and the tea party of who the republican party is nowadays but it's impossible to have a deal with one side refuses to compromise even after losing. they will not accept their own defeat. >> right. >> and that is the problem. >> a.b. let's play what congressman walter jones had to say on this boehner purge. i have the full screen of what he had to say when several members were removed as identified not being team pla
>> well, just look at speaker boehner's fiscal cliff proposal. three-page letter with three simple bullet points. that's the entire proposal to deal with the fiscal cliff and starts out with the sentence that's remarkable, tamron. first sentence is because the election is a status quo, both sides have to compromise. they didn't see what happened. they just dismissed it as a status quo election and this is not just speaker boehner we eric cantor and paul ryan, kevin mccarthy. the entire...
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please don't make me say "fiscal cliff" again. the two words. all i talk about. >> eric: we had predictions that they will come to a deal. it's political jockeying now. >> that is what we are hoping for. >> eric: that is what all americans want. >> jamie: three words. fasten your seat belt. new report that the aging infrastructure may have played a role in freight train derailment in new jersey. truly tragic. seven cars jumping the tracks while the train was crossing a bridge. the problem is it was carrying hazardous chemicals in the air. live in the new york news room. i know there were evacuations. did the folks get go back home? >> the national transportation safety board saying the conductor with con-raid since 2008. worked the accident route previously but this was his first week back on it. the ntsb pointed to a faulty traffic signal for causing friday bridge collapse. train derailment and the toxic chemical release that caused the health problem for residents in pollsborough, new jersey. >> they are going to work the point of derailment a
please don't make me say "fiscal cliff" again. the two words. all i talk about. >> eric: we had predictions that they will come to a deal. it's political jockeying now. >> that is what we are hoping for. >> eric: that is what all americans want. >> jamie: three words. fasten your seat belt. new report that the aging infrastructure may have played a role in freight train derailment in new jersey. truly tragic. seven cars jumping the tracks while the train was...
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the fiscal cliff and the debt ceiling, are they connected? >> the white house wants them to be connected. they actually think if neck get a deal decoupling the bush tax cuts, having entitlement reform in dealing with the debt ceiling that is getting a raise and not having to worry about it for another couple of years, that's what they want. house republicans have indicated that, look, they actually might want it to kick the can down the road, make a deal on taxes but kick it down the road where they have more leverage. president obama was asked about that earlier this week and said he doesn't want to play the debt ceiling game anymore. that's where republicans have more leverage than then do on other matters. >> all right. senior political editor mark murray, have a great weekend, sir. >> i want to bring in congressman peter welch from vermont. good to see you again. talked to you last weekend on msnbc. at that point you told me that you thought there was a 50/50 shot we'd go off the so-called fiscal cliff. today speaker boehner said talks we
the fiscal cliff and the debt ceiling, are they connected? >> the white house wants them to be connected. they actually think if neck get a deal decoupling the bush tax cuts, having entitlement reform in dealing with the debt ceiling that is getting a raise and not having to worry about it for another couple of years, that's what they want. house republicans have indicated that, look, they actually might want it to kick the can down the road, make a deal on taxes but kick it down the road...
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you guys are willing to go off the fiscal cliff? >> it republicans are not willing to let rates go back up, and we think they should go back to the clinton levels, a the a time when the american economy was doing exceptionally well, then there will not be an agreement. >> while geithner was drawing a line in the sand, house speaker john boehner was busy trying to lift his jaw off the flar after geithner presented the president's debt reduction plans to him last week. >> i was just flabbergasted. i looked at him and said you can't be serious. i have just never seen anything like it. >> yes, indeed, it seems that republicans are not quite sure what to make of the president taking a harder line across the bargaining table. >> you know, the president's idea of a negotiation is roll over and do what i ask. >> i think we're going over the cliff. it's pretty clear to me they made a political calculation. the president's plan is just, quite frankly, a joke. >> i'm not sure about that, senator graham, but there will be plenty of time for jok
you guys are willing to go off the fiscal cliff? >> it republicans are not willing to let rates go back up, and we think they should go back to the clinton levels, a the a time when the american economy was doing exceptionally well, then there will not be an agreement. >> while geithner was drawing a line in the sand, house speaker john boehner was busy trying to lift his jaw off the flar after geithner presented the president's debt reduction plans to him last week. >> i was...
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we expect add big impact from the fiscal cliff and the labor department said no, we did not but labor participation rate, look at this ugly chart the it is declining. we have the rate drop again in large part because the labor force fell by 350,000. we are watching that carefully because you want to see people work. and try to get jobs. it is critical. >>shepard: what impact did super storm sandy? >>gerri: not so much. however, there were a million people that were working part time rather than full time and that is ascribed to hurricane sandy. normally you do not expect that. >>shepard: the matters went, so what. >>gerri: well, they saw that the 350,000 number and they thought they didn't like that and the market pulled back a little. we have had back-and-forth situation on that, starting off 74 up on the dow and now we are down. >>shepard: better than negative. >>gerri: better than negative. >>shepard: millions of american jobs potentially on the line if lawmakers do not get their act together. house of representatives speaker boehner says there is in progress in talks to avoid the
we expect add big impact from the fiscal cliff and the labor department said no, we did not but labor participation rate, look at this ugly chart the it is declining. we have the rate drop again in large part because the labor force fell by 350,000. we are watching that carefully because you want to see people work. and try to get jobs. it is critical. >>shepard: what impact did super storm sandy? >>gerri: not so much. however, there were a million people that were working part time...
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no one fell off stage or fiscal no one fell off stage or fiscal cliff. ♪ the weather outside is frightful ♪ ♪ but the fire is so delightful ♪ nothing melts away the cold like a hot, delicious bowl of chicken noodle soup from campbell's. ♪ let it snow, let it snow >>> a twilight wedding, watch out for flying bears and the pope goes hi-tech. who knew it was even available? a university of las vegas grad student said she is going marry twilight's edward cohen. actually it's a cardboard cut out of actor robert posing as the vampire. she's doing it as a thesis project and has a commentary on the two sides of las vegas, the real and the fantasy. >>> it was raining bears in hershey, pennsylvania, literally. almost 13,000 of them. an annual fundraiser for are the children's miracle network. fans were encourage tlod the stuffed anim bears on the rink. >>> amazing show of support for a massachusetts woman fighting cancer. a flash mob was organized outside of her hospital room in boston. more than 200 friends and co-workers gathered into the shape of a heart so she could see it from her wind
no one fell off stage or fiscal no one fell off stage or fiscal cliff. ♪ the weather outside is frightful ♪ ♪ but the fire is so delightful ♪ nothing melts away the cold like a hot, delicious bowl of chicken noodle soup from campbell's. ♪ let it snow, let it snow >>> a twilight wedding, watch out for flying bears and the pope goes hi-tech. who knew it was even available? a university of las vegas grad student said she is going marry twilight's edward cohen. actually it's a...
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to blame republicans and just 27% the president if they don't agree on a fiscal cliff. we know that after the election, 60% of people said let's raise taxes on the wealthiest. what more does john boehner need? >> i don't understand the republicans' thinking on this. i really don't. this is power politics. they don't have the leverage in this situation. if they don't cut a deal within the next 30 days, you're going to see tax rates rise on all americans. you're going to see huge cuts in the defense budget. we're probably going to have a double dip recession, and until the congress then gets its act together to fix it and lower rates on the middle class, you will have the republicans essentially responsible for raising tax rates on the middle class. i can't imagine, again, bill krystal said this yesterday. i can't imagine why the republicans would want to be known as raising tacks xes on t middle class. >> thank you both. next, the president reacts to speaker boehner. stay with us. this is sheldon, whose long dy setting up the news starts with arthritis pain and a choice.
to blame republicans and just 27% the president if they don't agree on a fiscal cliff. we know that after the election, 60% of people said let's raise taxes on the wealthiest. what more does john boehner need? >> i don't understand the republicans' thinking on this. i really don't. this is power politics. they don't have the leverage in this situation. if they don't cut a deal within the next 30 days, you're going to see tax rates rise on all americans. you're going to see huge cuts in...
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., the president is taking his fiscal cliff solutions directly to the people. >>> plus, a modern-day spy story ripped from the pages of a tom clancy novel. good morning, everyone. i'm lynn berry and we start with breaking news out of japan. a strong 7.3-magnitude earthquake has struck off the country's northeastern coast. that's the same region hit by last year's massive earthquake and tsunami. well, this morning's quake shook buildings as far as tokyo, and there are reports of a three-foot tsunami in the miyagi prefecture. the u.s. geological survey says there's no risk of a widespread tsunami, and so far, there have been no news of injuries or damage. of course, we're going to keep an eye on any aftershocks that occur and we'll bring you the very latest. >>> well, elsewhere, all eyes are on cairo this morning as turmoil has once again overtaken egypt's capital. this time, it's in response to a politically explosive power grab by the democracy's president, mohamed morsi. right now, soldiers are setting up barricades as morsi's opponents plan a million man march in cairo's tahrir squ
., the president is taking his fiscal cliff solutions directly to the people. >>> plus, a modern-day spy story ripped from the pages of a tom clancy novel. good morning, everyone. i'm lynn berry and we start with breaking news out of japan. a strong 7.3-magnitude earthquake has struck off the country's northeastern coast. that's the same region hit by last year's massive earthquake and tsunami. well, this morning's quake shook buildings as far as tokyo, and there are reports of a...
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do not cooperate with the fiscal cliff idea. rebel and say just extend everything and come back later when the economy is at full employment. >> how do you rebel against the fiscal cliff idea? paul, if you listen to boehner and his plan, he sort of says it's erskine bowles plan. is it possible to rebel against an idea marching along? we're on day 29, heading into day 28. >> i get excited when i hear david say things so far outside the box. but this is washington. i guess it's not air box, it's a beltway here. and we are in this debt mania. there is a long term crisis on debt. i think david would agree with that. if you actually go back and read what my old boss and his partner wrote almost two years ago now, they said these things, these cuts in tax increases should be back loaded so we don't damage the economy. in the president's proposal, he does have a small infrastructure bank program to try to jump-start some growth, so i think it's a good idea. raising tax rates on the rich. i saw your interview with senator coburn. he is
do not cooperate with the fiscal cliff idea. rebel and say just extend everything and come back later when the economy is at full employment. >> how do you rebel against the fiscal cliff idea? paul, if you listen to boehner and his plan, he sort of says it's erskine bowles plan. is it possible to rebel against an idea marching along? we're on day 29, heading into day 28. >> i get excited when i hear david say things so far outside the box. but this is washington. i guess it's not...
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but another fiscal cliff was on the horizon, and that is the debt. but they also want to do, timothy geithner said, we are going to take away from congress approval of raising the debt ceiling. we can do it on our own. that is an outrage. congress has the power of the not this president to spend more money we don't have. megyn: even alan colmes was on the programs they shouldn't get congressional approval for that. but where is the republican proposal? they say that they want to close loopholes and get rid of some deductions, but when it comes to big issues, which is paring back spending, what are they proposing? over the weekend, mitch mcconnell, the senate minority leader, he offered a few nuggets and i would like to get your thoughts. he said increase the medicare eligibility age, ask wealthier americans to pay higher medicare premiums. and possibly paring back the cost of living increases, giving to social security beneficiaries. those are three specific so we have heard so far from the gop side. what are your thoughts on that? >> i think that is
but another fiscal cliff was on the horizon, and that is the debt. but they also want to do, timothy geithner said, we are going to take away from congress approval of raising the debt ceiling. we can do it on our own. that is an outrage. congress has the power of the not this president to spend more money we don't have. megyn: even alan colmes was on the programs they shouldn't get congressional approval for that. but where is the republican proposal? they say that they want to close loopholes...
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we'll go off the fiscal cliff, down the fiscal slope. yes i think it will happen because it is the one way republicans can, without violating the pledge, and offending the grand inquisitor grover norquist, it's the one way they can let this happen. >> and, in fact, you know, what could happen, you can imagine a scenario where you go off the cliff on taxes, rates go up for everybody, you then vote to restore the rates for the vast majority of taxpayers, 98%, and further it is even conceivable you negotiate down the top rates in the level under bill clinton a little bit by putting in the pot offsetting deductions for credits which would allow republicans to claim some sort of victory as well. that could be a scenario where you have a consensus on the tax run. >> let's run all of this by representative xavier becerra of california. he's joining us now. nice to see you, sir 367 appreciate your time. what is really the white house dismiss kind of out of hand i mean i don't have the exact number of minutes that they had this republican proposa
we'll go off the fiscal cliff, down the fiscal slope. yes i think it will happen because it is the one way republicans can, without violating the pledge, and offending the grand inquisitor grover norquist, it's the one way they can let this happen. >> and, in fact, you know, what could happen, you can imagine a scenario where you go off the cliff on taxes, rates go up for everybody, you then vote to restore the rates for the vast majority of taxpayers, 98%, and further it is even...